I suspect they won't be able to make it and being a new landlord, don't have any experience with this aspect of property management.

Hello BP Community,My name is Patrick Belanger, and my wife and I (both engineers turned entrepreneurs) havebeen investing in Edmonton and the surrounding communities since 2013, buildinga 32 unit local portfolio of single family homes, duplexes, garage suites, andsmall new-build multifamily (6 and 8 unit properties).

After 6 months, I'd use my LLC to purchase the property for $150K.

The property is currently in a trust. 

I sold my rental property to buy my current condo and am available to help investors build & grow their portfolios.

Seems like this property is not really cash flowing on year 1 or 2 but there is a good potential for appreciation if I buy and hold.

They didnt refi, then tried to sell because they found repairs they apparently didn’t know about.

It can vary based on the neighborhood and the property's condition, though.

I got interested in real estate investing last year and since then have read several of the BP published books on real estate.I still have a lot of unanswered questions floating in my head but my goal is to buy my first property and some point next year. 

Which if you can pay cash and assume you will get your cash back when you sell is fine but if you need a mortgage you still have certain margins you need to meet.